First Allied Advisory Services Inc. lifted its stake in Amgen, Inc. (NASDAQ:AMGN) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,288 shares of the medical research company’s stock after purchasing an additional 1,015 shares during the period. First Allied Advisory Services Inc.’s holdings in Amgen were worth $7,311,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Sand Hill Global Advisors LLC acquired a new stake in Amgen during the 3rd quarter worth $205,000. Cadinha & Co. LLC raised its stake in Amgen by 13.3% during the 3rd quarter. Cadinha & Co. LLC now owns 12,786 shares of the medical research company’s stock worth $2,384,000 after buying an additional 1,500 shares during the period. L & S Advisors Inc acquired a new stake in Amgen during the 3rd quarter worth $2,745,000. Segall Bryant & Hamill LLC raised its stake in Amgen by 10.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 9,008 shares of the medical research company’s stock worth $1,680,000 after buying an additional 885 shares during the period. Finally, Aveo Capital Partners LLC acquired a new stake in Amgen during the 3rd quarter worth $738,000. Institutional investors and hedge funds own 78.59% of the company’s stock.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total transaction of $283,070.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 4,575 shares of company stock worth $814,396. 0.19% of the stock is owned by company insiders.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. Amgen’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.89 EPS. research analysts expect that Amgen, Inc. will post 13.22 EPS for the current year.
Amgen declared that its board has approved a share repurchase program on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Amgen’s previous quarterly dividend of $1.15. Amgen’s payout ratio is currently 178.99%.
Several analysts have issued reports on AMGN shares. Argus raised Amgen from a “hold” rating to a “buy” rating and lifted their price target for the company from $192.33 to $220.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $189.00 price target on shares of Amgen in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price target on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Piper Jaffray Companies dropped their price target on Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley dropped their price target on Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and a consensus target price of $191.49.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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